This document will describe the steps and work necessary to file for a Class B Bank in Canada. The project objective is to initiate the process with the Banking Department in the Ministry of Finance. There are several steps in the plan that call for external consultation to verify and expedite the application. The scope include a short version of the project plan and steps and investment required to place the project before the application committee. The assumptions are simple at this pint, the client is acceptable. The main risks is the initial capital outlay is not recoverable. The costs, at this point, are still flexible within the boundaries of application necessities. The current timeline is based on similar applications made by members of the Subject Matter Experts involved wit the project.

Project Overview

Craig and the group behind Worldtransact would like to pursue the creation of a bank. This bank would facilitate the plans of World Transact by fulfilling the following business objectives.

1. Extending the scope of the current business

2. Take advantage of the current customer base to develop extended product lines, specifically, credit cards, electronic transaction processing and bank to bank clearance

3. Create business prospects for there exiting channel. Expanding into the Bank market will give their channel unique opportunities to expand their own business

This project will provide the information required by the principals to formulate a decision regarding the next step in their decision to pursue a Bank.

Project objectives

Objective statements describe what this project will achieve and deliver. The objectives are deliverable-based. The completion of objectives are evident through the creation of one or more deliverables.

The WT Bank Project will meet the following objectives:

· Objective #1: Discover and document the requirements for creating a Schedule B bank in Canada for the WT Group

· Objective #2: Discover and document the requirements for interacting with an existing Canadian Bank with the objective of splitting in 5 years to create a separate Bank exclusively for the WT Group

· Objective #3: Discover and document the requirements for of an off shore Bank entity

· Objective #4 Discover and document the requirements for purchasing an American Bank entity

· Objective #5 Discover and document the requirements for purchasing a Schedule B Canadian Bank

· Objective #6

Project scope

Scope statements are used to define what is within the boundaries of the project and what is outside those boundaries. The scope of this project includes and excludes the following items.

In scope:

Business Requirements necessary to provide the information to the licensing department to accept the proposal

Current State Assessment of the business to sustain a competitive advance to another Class B institution.

General Requirements for financial statements and the pro forma delivery in a form and content that are acceptable to the authorities.

Sales projections that will be required to show the viability of the project in the view of the authorities.

Employee requirements to staff a Class B initiations that are compatible with the projections and the experience of the authorities.

Out of scope:

The major life-cycle processes of the Bank are out of scope( decision support, data entry, management reporting)

The business process are out of scope (Billing, GL, Payroll, Reporting)

The Development and planning for deployment of the bank are out of scope. (analysis, design, testing)

The major functional silos of the business are out of scope (Human Resources, Information Management, Marketing)

Deliverables produced

In this section, we will describe the deliverables of the project.

· Deliverable 1: Security check to ensure there are no issues that would interfere with the application on a character basis.

· Deliverable 2: Definition and Schedule of costs for each of the options based on the objectives outlined.

· Deliverable 3: Documentation of requirements for each of the options.

· Deliverable 4 Completion of the federal requirements for application of Schedule B bank

· Deliverable 5 Initial project plan for the implementation of executing the application

Departments affected

The impact of this project on the departments within Worldtransact need to be determined to ensure that the right people and functional areas are involved and communication is directed appropriately.

Organization	Participation
Marketing	4Current customer base. 4Projected customer base. 4Projected markets available.
Finance	4Current Transaction levels. 4Current Income Statement. 4Capital of the people undertaking the project.
Information Technology	4Systems involved in the project 4Infrastructure to sustain the project

Project estimated effort/cost/duration

The estimated effort hours and project costs are depicted as an accumulation of the charges and costs in compiling the data for this project. There are a number of experts that will be adding information to the project. The summary of costs are our best estimate of the total resource allocation costs to deliver the documentation. There could be additional costs and some of the costs may have been overstated. The discovery will probably uncover other relevant information that is pertinent to the project, as this happens it will be discussed and __________ will be notified.

It may also be required to provide personal funds to individuals in the case of offshore entities. These funds may be required to facilitate the smooth acceptance of many of the license requirements.

The deliverables included in this milestone chart should all have been described in the scope section.

Estimated cost:

The rate for the consultants on this project is $225 per hour. Any requirements beyond the current roster of project team members will be first authorized by__________. At which point they will be added to the team at their rate. In most cases additional requirements will be of a specific nature and will require the services of an Subject Matter Expert.

Item	Effort	Cost	Explanation
Consultants	Hrs		Experts required to facilitate the application. Many of whom have been involved with similar activities recently.
Workshops	4		Workshops for the principles involved in the investment. These will present the progress at critical stages and allow for changes to the plan.
Security Report	1	$4500	Confidential report generate by a private contractor as the background check on the principles of the proposed application.. Required by Ottawa.

Total Cost

Estimated effort hours:

Resource	Estimate of hours	Deliverable(s) completed
Colin Campbell		· Project definition · Workplan
David Moulton		· Deliverable 1 · Deliverable 2
Bill Calvin		· Deliverable 3
Helen Sinclair		· Deliverable 4
Security investigation	One time cost	· Security and character profile
		·
Resource		· Deliverable 5
Project conclusion

Estimated duration:

Milestone	Date completed	Deliverable(s) completed
Project planning	Mm/dd/yy	· Project definition · Workplan
Milestone 1	Mm/dd/yy	· Deliverable 1 · Deliverable 2
Milestone 2	Mm/dd/yy	· Deliverable 3
Milestone 3	Mm/dd/yy	· Deliverable 4
Milestone 4	Mm/dd/yy	· Deliverable 5
Project conclusion	Mm/dd/yy

Project assumptions

In order to identify and estimate the required tasks and timing for the project, certain assumptions and premises need to be made. Project assumptions are circumstances and events that need to occur for the project to be successful but are outside the total control of the project team. Based on the current knowledge today, the project assumptions are listed below. If an assumption is invalidated at a later date, then the activities and estimates in the project plan should be adjusted accordingly.

Assumption #1 The world transact group has the capital needed to sustain a project of this magnitude

Assumption #2. World transact has the necessary character to withstand the security check required by the authorities.

Assumption #3, Worldtransact has the necessary industry experience, or can partner with an entity that has the industry experience required by the authorities.

Assumption #4 The management has the time to devote to the project.

Assumption #5 The companies clients have no issues with any jurisdiction that would render them unacceptable to the granting authorities

Assumption #6 The project is executed in a timely manner and no issues arise that interfere with any of the project personnel’s ability to perform

Project risks

Project risks are characteristics, circumstances, or features of the project environment that may have an adverse affect on the project or the quality of its deliverables. Known risks identified with this project have been included below. A plan to minimize or eliminate the impact of each risk to the project is not within the scope of this project.

Risk Area	Level (H/M/L)	Risk Plan
1. Insufficient capital behind the principals within the project.
2. Insufficient experience behind the principals within the project.
3. Inadequate security for the authorities to allow the project to advance.
4. Client with unknown attributes
5. Change in Bank Act
6. Change in government regulations

Project approach

There will be several workshops to explain the progress to the clients. Each workshop will occur at the beginning of the next phase of the project. In this case the project is a simple outline and compilation of the costs that will be incurred to progress further with the application. At any point the clients may decide to cancel the project after due considerations.

The project approach is intended to encourage the Clients to think about the project from the top down instead of the traditional bottom-up method. the approach in the project definition compels the Client to both consider the dependencies of the project and to incorporate the involvement necessary to plan and understand the project.

Project organization

An appropriate project organization structure is essential to achieve success. The following diagram depicts the proposed organization.

Project executive sponsor:

Project sponsor:

Project director:

Steering committee members:

Project manager:

Customer project manager:

Project advisors:

Project team members:

Organization chart:

There is no organization chart for this project

Project approvals:

______________________________________ ___________________

Executive Sponsor–xxxxx Date

______________________________________ ___________________

Project Sponsor–xxx xxxxx Date

______________________________________ ___________________

Customer Project Manager–xxxxx xxxx Date

______________________________________ ___________________

Project Director–xxxx xxxx Date

______________________________________ ___________________

Project Manager–xxxxx xxxx Date

Project Executive Summary

Item

Effort

Cost

Explanation

Consultants

Hrs

Experts required to facilitate the application. Many of whom have been involved with similar activities recently.

Workshops

4

Workshops for the principles involved in the investment. These will present the progress at critical stages and allow for changes to the plan.

Security Report

1

$4500

Confidential report generate by a private contractor as the background check on the principles of the proposed application.. Required by Ottawa.

Total Cost

Project risks

Project approach